Anta takes 29% in Puma to boost its globalisation
Chinese sportswear group Anta has bought a 29% stake in Puma for €1.5 billion from Groupe Artémis, the investment company of the Pinault family and owners of Kering.
The deal makes it the largest shareholder – but it does not intend to make a takeover bid.
It is, however, a “significant step” in Anta Sports’ globalisation strategy, “enhancing its reach, recognition and competitiveness in the global sporting goods market”, it said.
Ding Shizhong, chairman of Anta, said: “We look forward to learning from each other and joining hands to fully unlock the brand’s full potential. This will further accelerate Anta Sports’ globalisation, and help drive the next chapter of growth for the global sports markets, including China.”
He added Puma’s share price over the past few months does not reflect its potential. “We have confidence in its management team and strategic transformation. Moving forward, we hope to build strong trust, work together at arm’s length, and leverage our complementary strengths without comprising independence. We look forward to supporting the brand's ongoing revival.”
